If you have a driveway, there's a simple way to earn some easy money this year.
As the cost of living continues to rise, finding new ways to earn some extra income is more essential than ever.
For anyone with a drive or parking space that sits empty most of the time, hiring it out for others to use might just be the ticket to thousands of pounds extra a year.
You can even just rent it out while you're away on holiday, helping you to pay for the trip itself.
Renting your space is quick and easy, and if you’re in a tourist hotspot or desirable location, then it really is a no-brainer.
Here's how to get the ball rolling on renting out your driveway.
How much money could you make?
Homeowners who are considering taking part could earn up to £3,000 a year by renting out their unused driveway.
According to YourParkingSpace, participating households are already boasting a £1,000 increase in their earnings.
The top three earning cities in 2021 were London, Brighton and Edinburgh, with homeowners taking in an average of £2,212, £2,059 and £1,941 respectively.
The sites offering this service give homeowners an average 3% commission on successfully booked parking spots.
If you are in a popular or tourist location, this soon adds up to high figures.
How to rent out your driveway
There are a few ways to get on board with the trend, but the easiest is to sign up to YourParkingSpace.
The website also promises to plant a tree for every parking space booked.
Through the above link, you can also plan out your next parking space based on location and date.
Alternative sites are JustPark and Stashbee, both offering similar services for those either looking to park or share their driveway.
How to set up an account
Setting up an account on YourParkingSpace, JustPark or Stashbee is easy and only takes a few moments of your time.
Essentially, you just need to follow the sign-up icons, filling in your details, locations and bank details and you’re away.
It is completely free to list your parking space, you just need to click on “List your space for free” on Your Parking Space; “rent out your space” on JustPark and “Become a host” on StashBee.
For anyone who keeps their drive empty or is away during the summer months, seeing some money trickle in with little effort is always nice.
